The Downtown Lynchburg Association (DLA) operates Launch LYH, a program designed to support entrepreneurs looking to start, relocate, or expand businesses in Downtown Lynchburg storefronts. Selected participants engage in an eight-week education course culminating in a pitch competition. Winners receive cash grants of at least $20,000, with a total of $100,000 available for the 2025 cycle. These funds can be used for costs such as rent, build-out, inventory, and start-up expenses, but not payroll. Grants are reimbursement-based and disbursed only after expenses are incurred and a signed lease agreement is provided.
Eligible businesses include new ventures, existing online businesses, businesses looking to relocate, or current Downtown businesses planning to expand. Businesses must create new amenities for Downtown Lynchburg visitors or residents in one of the following categories: entertainment/culture/attraction, restaurant/beverage, retail, or residential/workforce amenities (e.g., markets, pharmacies, or laundromats). Applicants must not have previously announced plans to open or expand in Downtown Lynchburg and must commit to opening a storefront location by December 31, 2025.
Program requirements include attending the eight-week business training course, submitting a detailed business plan, participating in promotional activities, meeting with a mentor monthly, and providing regular progress updates. Participants must also attend two follow-up classes and submit annual data on jobs created, investments, and other key performance indicators for three years post-opening. Any equipment or goods purchased with grant funds must be returned to DLA if the business closes within three years.
The timeline begins with applications opening on January 1 and closing on January 31, with interviews in early February and notifications of acceptance by February 21. Classes run from March 3 through April 21, with business plans due by April 27. Pitch presentations occur the week of May 9, and winners are announced on June 4. The program offers two tracks for participants: one for new businesses and one for established businesses, with weekly classes tailored to their needs.
Winners of the pitch competition receive additional support, including site selection assistance, marketing audits, promotional opportunities, help navigating city permits, grand opening promotions, and access to business networking events. The program also provides complimentary commercial banking services, basic web design, branding packages, and media exposure.
Applications are evaluated on participation, product or service value, target market, financial feasibility, competitive advantage, alignment with Downtown Lynchburg’s master plan, and pitch presentation. Entrepreneurs interested in applying or sponsoring the program can contact Kelvin Whitehurst, Business Development Coordinator, at kelvin@downtownlynchburg.com or (434) 485-7269.
